Forex Signal: GBP/USD Set to Reverse Course
June 30, 2010 at 21:33 UTC || By Forex Playmaker
The British pound has had an inexplicable run over the past two weeks, reaching impressive heights against the US dollar. However, the pair is likely to reverse both immediately and violently, as traders come to realize that the move was overdone. The GBP/USD is last priced at 1.4945, just off its recent highs above the… Continue Reading
Forex Signal: EUR/USD Heading to Fresh Lows
June 30, 2010 at 20:51 UTC || By Forex Playmaker
The euro has held its ground against the US dollar over the past two week, though the shared currency’s strength was more a function of dollar weakness. As risk aversion heightens in the global marketplace, the euro will find substantial resistance to further upside. The EUR/USD is last priced at 1.2235, after falling from recent… Continue Reading
UPDATE: US Dollar on Verge of Major Run Against Loonie
June 30, 2010 at 09:43 UTC || By Forex Playmaker
The US dollar’s run against the Canadian dollar in now in full force, with the pair rising to the 1.06 handle for the first time since June 7. Updated stop prices to lock in profits are now necessary. All rules described in the original recommendation (below) remain the same. However, we will now adjust our… Continue Reading
Forex Signal: EUR/AUD Making Break to New Lows
June 28, 2010 at 12:43 UTC || By Forex Playmaker
The euro is on the verge of falling to record lows against the Australian dollar, signaling a substantial downward move in the coming trading days. The EUR/AUD is last priced at 1.4075, well off the Friday highs atop the 1.43 handle. The final support for the currency pair will present near the 1.3930 level, after… Continue Reading
US Dollar on Verge of Major Run Against Loonie
June 8, 2010 at 16:41 UTC || By Forex Playmaker
The US dollar is positioned for a significant run against its Canadian counterpart and will likely reach new 2010 highs in the days to weeks ahead. Last priced at 1.0485, the USD/CAD has sold off notably from its May 25 highs, when the pair traded at 1.0853. However, with the pair drawing ever closer to… Continue Reading
GBP/USD Run May End on Double-Top Formation
June 3, 2010 at 10:51 UTC || By Forex Playmaker
The recent rally for the British pound against the US dollar may have run its course, as a short-term double-top formation is in the works. Last priced at 1.4620, the GBP/USD failed to breach its upward resistance overnight near the 1.4750 level on its second attempt in as many days. The real test for further… Continue Reading
